BLIP is a special purpose vehicle and a one-of-its kind accelerator that provides strategic tie-ups as well as funding support, with interests in health tech, beauty and consumer product startups at the commercialisation stage.Vishal Dutta | ET Bureau | June 16, 2017, 15:22 IST

AHMEDABAD: HealthIntel Services (HSPL), which uses a unique online-offline pharmacy model in Northern India, has raised an undisclosed growth capital from BLIP Initiatives. BLIP is a special purpose vehicle and a one-of-its kind accelerator that provides strategic tie-ups as well as funding support, with interests in health tech, beauty and consumer product startups at the commercialisation stage.

A year-old BLIP was cofounded by Nitin Gupta, an ISB alumni and a former investment banker, along with SC Sehgal, promoter of Ozone Ayurvedics, owner of erstwhile brand 'No Marks' - India's largest selling anti-mark product. BIORx Ventures Advisors acted as an exclusive transaction advisor on behalf of HSPL.

"The growth capital secured is sufficient to fuel the operations for the next 15-18 months. The funds will be primarily used for expansion in 8-10 cities over the next 12 months," said HealthIntel cofounder Sameer Bhalla, who is an IIT Delhi alumni and has previously worked with HCL, Cognizant and Infosys, leading sales in their pharma-healthcare space in the USA and India.

Currently, the startup is consolidating its presence in Northern India, especially in Uttar Pradesh and Delhi NCR, and soon it will expand its footprint to Haryana, Punjab and Gujarat.

HealthIntel, founded in 2015, is a tech company that provides eprescription-based application for doctors for efficient patient and clinic management. It serves both doctors and patients with clinic automation and delivery of medicines. The company has set up dedicated call centre with pharmacists to take phone orders, application-based orders and website orders. HealthIntel has its own pharmacies and does not work as an aggregator in any region.

"The accelerator plans to leverage its understanding and relationships in the healthcare business to guide the business expansion over the next 12-18 months," said BLIP's Gupta.

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